Shyft Group (SHYF) AI Stock Analysis

• Market Cap: $343.45M
• Dividend Yield: 2.04%
• Average Volume (3M): 266.98K
• Price to Earnings (P/E): 760.5
• Beta (1Y): 1.12
• Revenue Growth: -4.08%
• EPS Growth: N/A
• Country: US
• Employees: 2,900
• Sector: Industrials
• Sector Strength: 92
• Industry: Agricultural - Machinery
• EPS (TTM): 0.07
• Shares Outstanding: 35,009,790
• 10 Day Avg. Volume: 245,250
• 30 Day Avg. Volume: 266,984
• PEG Ratio: 6.24
• Price to Book (P/B): 1.29
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 19.35
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $15.50
• Price Target Upside: 58.00% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 63 Neutral
• Price Target: $10.50 ▲( 7.03% Upside)

Shyft Group's overall stock score is primarily driven by its moderate financial health and technical momentum, tempered by a very high P/E ratio indicating overvaluation. The upcoming merger adds potential for growth, supported by positive earnings call sentiment. However, the current valuation remains a significant concern.

Positive Factors

Earnings

SHYF reported earnings with adjusted EPS above consensus due to better cost optimization efforts.

Market Expansion

The merger allows SHYF to enter new markets beyond last mile delivery, expanding into commercial truck upfitting, snow and ice, street sweeping, paving, and agricultural solutions.

Merger and Acquisition

The merger will create a globally diversified specialty vehicles player, enhancing market presence and providing cost and revenue synergies.

Negative Factors

Financial Performance

FVS segment revenue and EBITDA declined both sequentially and year-over-year, impacting margins.

Merger Execution Risks

The execution risks are viewed as elevated going forward in this multi-continent merger of equals.

Peer Comparison

The resulting combined company will still only have approximately 10.5% EBITDA margins, below many peers.

Shyft Group Business Overview & Revenue Model

Company Description

The Shyft Group, Inc. manufactures and assembles specialty vehicles for the commercial vehicle and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment manufactures and sells commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries. This segment markets its commercial vehicles, including walk-in vans, cutaway vans, and truck bodies under the Aeromaster, Velocity, Trademaster, and Utilivan brands; and vocation-specific equipment upfit services under the Utilimaster Upfit Services and Strobes-R-Us brands. It also installs specialty interior and exterior up-fit equipment for walk-in vans, truck bodies, cargo vans, and light duty pick-up trucks; and provides aftermarket support, including parts sales and field services, as well as parts and accessories. The Specialty Vehicles segment engineers and manufactures luxury class A diesel motor home chassis; and manufactures and assembles truck bodies under the Royal Truck Body and DuraMag brands. It also provides final assembly services for Isuzu N-gas and F-series chassis under the Builtmore Contract Manufacturing brand; and designs and installs custom lighting and upfit solutions for a range of specialty industries. In addition, this segment provides truck accessories under the Magnum brand; and a range of parts and accessories, and maintenance and repair services for its motorhome and specialty chassis. The Shyft Group, Inc. sells its products to commercial users, original equipment manufacturers, dealers, individuals, municipalities, and other government entities. The company was formerly known as Spartan Motors, Inc. and changed its name to The Shyft Group, Inc. in June 2020. The Shyft Group, Inc. was incorporated in 1975 and is headquartered in Novi, Michigan.

How the Company Makes Money

Shyft Group makes money primarily through the sale of its commercial vehicles and chassis to businesses and organizations across diverse sectors. The company's revenue model is centered around manufacturing and selling vehicles designed for last mile delivery, service, and utility applications. Key revenue streams include direct sales to delivery fleet operators, government entities, and utility companies. Additionally, Shyft Group benefits from strategic partnerships with major logistics and delivery companies, enhancing its market reach and sales potential. The company’s focus on innovation and customization allows it to command a premium in the market, contributing significantly to its earnings.

Shyft Group Financial Statement Overview

Summary

Shyft Group exhibits moderate financial health with stable revenue and profitability indicators. The balance sheet reflects a balanced leverage position and stable equity levels. Cash flow metrics show strong cash generation, although growth rates are moderate. Overall, the company maintains a steady financial position with potential for improvement in profitability and growth.

Income Statement

The gross profit margin for TTM is 20.61%, indicating moderate profitability. Net profit margin improved to 0.06% TTM from a negative margin in the previous year, suggesting a return to profitability. Revenue growth is relatively slow, with a minor increase of 0.85% from the previous annual report, reflecting a stabilizing revenue base. EBIT and EBITDA margins are low at 1.18% and 3.24% TTM, respectively, indicating limited operational efficiency.

Balance Sheet

The debt-to-equity ratio is 0.33, showing a balanced leverage position. ROE is low at 0.18% TTM, reflecting minimal returns on equity. The equity ratio is 42.57% TTM, indicating a moderate level of equity financing relative to assets, suggesting a stable financial structure.

Cash Flow

Free cash flow growth rate is positive, showing a slight increase from the previous period. The operating cash flow to net income ratio is favorable at 67.34 TTM, demonstrating strong cash generation relative to net income. The free cash flow to net income ratio is high at 37.81 TTM, suggesting efficient conversion of earnings to cash.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
792.89M	786.18M	872.20M	1.03B	991.79M	675.97M
	Gross Profit
163.43M	157.19M	150.36M	180.43M	199.26M	146.28M
	EBIT
9.33M	4.11M	6.75M	47.51M	84.05M	35.26M
	EBITDA
31.34M	26.56M	24.18M	61.53M	96.28M	63.35M
	Net Income Common Stockholders
438.00K	-2.79M	6.50M	36.56M	68.92M	32.82M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
16.17M	15.78M	9.96M	11.55M	37.16M	21.00M
	Total Assets
581.08M	568.75M	530.05M	580.48M	447.87M	359.05M
	Total Debt
192.07M	175.32M	132.37M	131.14M	55.18M	74.31M
	Net Debt
175.90M	159.54M	122.41M	119.59M	18.02M	53.32M
	Total Liabilities
333.76M	320.43M	277.88M	311.79M	181.01M	158.89M
	Stockholders Equity
247.33M	248.32M	252.17M	268.59M	266.75M	200.33M
Cash Flow		Free Cash Flow
16.57M	16.39M	35.51M	-39.41M	51.01M	49.80M
	Operating Cash Flow
29.49M	30.06M	56.24M	-18.84M	74.01M	64.33M
	Investing Cash Flow
-60.52M	-61.20M	-21.11M	-20.42M	-22.08M	14.92M
	Financing Cash Flow
33.94M	36.96M	-36.72M	13.65M	-35.77M	-77.60M

Shyft Group Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 9.81
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SHYF, the sentiment is Positive. The current price of 9.81 is above the 20-day moving average (MA) of 9.27, above the 50-day MA of 8.71, and below the 200-day MA of 11.35, indicating a neutral trend. The MACD of 0.33 indicates Negative momentum. The RSI at 59.57 is Neutral, neither overbought nor oversold. The STOCH value of 51.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SHYF.

Shyft Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MTW	73 Outperform	$366.13M	8.20	7.21%	―	-2.75%	65.38%
Sector *	64 Neutral	$4.39B	11.81	5.20%	249.39%	3.96%	-12.36%
SHYF	63 Neutral	$343.45M	760.47	0.18%	2.04%	-4.08%	―
CMCO	61 Neutral	$469.82M	51.70	1.07%	1.70%	-2.02%	-80.76%
GENC		$197.59M	12.19		―	―	―
TWI	61 Neutral	$446.57M	―	-2.65%	―	5.64%	-124.05%
WNC	48 Neutral	$362.60M	―	-15.01%	3.69%	-25.44%	-135.47%

Shyft Group Corporate Events

Shyft Group Shareholders Meeting Approves Key Proposals

The Shyft Group, Inc. held its annual meeting of shareholders on May 14, 2025, where four proposals were voted upon. The company operates in the manufacturing industry, focusing on specialty vehicles and chassis. At the meeting, proposals regarding the election of board members, the appointment of an accounting firm, and amendments to the stock incentive plan were approved, while the proposal on executive compensation was rejected.

The most recent analyst rating on (SHYF) stock is a Buy with a $16.00 price target. To see the full list of analyst forecasts on Shyft Group stock, see the SHYF Stock Forecast page.

Shyft Group Announces Merger with Aebi Schmidt

On December 16, 2024, The Shyft Group, Inc. entered into a Merger Agreement with Aebi Schmidt Holding AG, which will result in Shyft becoming a wholly owned subsidiary of Aebi Schmidt. As a result of this merger, Joshua Sherbin, Shyft’s Chief Legal, Administrative and Compliance Officer, has announced his intention to resign for ‘good reason’ if the merger is completed, which may impact the company’s executive structure.

Shyft Group Announces Merger with Aebi Schmidt

On April 4, 2025, The Shyft Group announced that Aebi Schmidt Group filed a registration statement on Form S-4 with the SEC for their proposed merger. The merger, expected to close in mid-2025, aims to create a combined company named Aebi Schmidt Group, which will be listed on Nasdaq under the symbol ‘AEBI’. This move is anticipated to enhance operational capabilities, drive growth, and create long-term shareholder value, with projected combined revenues of $1.9 billion and adjusted EBITDA of $148 million for 2024.